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9 Notes from the Leadership 42 Diversity & Inclusion 54 Ongoing Learning
28 CPABC's Indigenous Strategy 46 Ethics 58 Kudos
36 AML Update 50 Tax 62 Snapshot
JANUARY/FEBRUARY 2021
Celebrating
CFE success!
PM 40069584
YOU DESERVE PEACE OF MIND to focus on what matters most. GET A QUOTE www.cpaipw.ca/quote
This is what
success looks like Justin Bains Vianna Chen Winston Chen Charlotte Hodgson
Smythe is proud to congratulate our 17
successful CFE writers. In this exceptional
year, their achievement is that much more
significant. We recognize this talented and
resilient group and what they bring to the
accounting profession. We are proud of their
accomplishments and excited to see them David Jerome Joshua Kodis Jacky Leung Jessica Jin
grow and the leadership they will bring to
our Firm in the next stage of their careers as
Chartered Professional Accountants.
Not included in photos: Anthony Sohal Kim Lin Emma Nguyen Christiana Pochailo Connor Smythe
Eric Son Kwan Son Kevin Wang Philip Yoe
smythecpa.com
VANCOU VER | LANGLE Y | NANAIMO
Contents January/February 2021
Cover Story In Focus
9 Notes from the Leadership
10 Notes & News
40 This and That
Surviving tax season: RRSP and
tax tips from CPABC
54 Ongoing Learning
• PD Experts: Understanding
the financial risks of employee
benefits
20
• PD Highlights: Special pricing
Celebrating CFE Success! offers, new on-demand
Meet the 10 CFE writers from BC and Yukon seminars, in-person seminars,
and virtual executive programs
who made the National Honour Roll
58 Members in Focus
• Announcements and accolades
62 Snapshot
28 Eva Fong, CPA, CGA
CFO, WELL Health Technologies Corp.
CPABC’s Indigenous Strategy Recurring Columns
Building for a stronger, more
inclusive future 42 Diversity & Inclusion
Bringing racial diversity to
corporate Canada
46 Ethics
CPAs and AI: Adding value
through ethical leadership
50 Tax
36 The nuances of the gross
The Fight Continues negligence penalty
An update on anti-money-
laundering initiatives
Photo by Bobo Zhao Photography
10 Virtual MET recap
11 Important reminders
12 Volunteer tax services
14 Recruitment events
Cover image:
fotostok_pdv/iStock/Getty Images
CPABC in Focus • Jan/Feb 2021 5
January/February 2021, Vol. 9, No. 1
CPABC in Focus is the flagship magazine of BC’s chartered professional accountants.
CPABC Board
Chair Geoff Dodds, CPA, CA
First Vice-Chair Karen Horcher, FCPA, FCGA
Second Vice-Chair Sheila Nelson, CPA, CA
Treasurer Chris Gimpel, CPA, CA
Craig Elliott, CPA, CGA
Lisa Ethans, FCPA, FCA
Elizabeth Jackson (Public Representative)
Bereket Kebede (Public Representative)
J. Alain LeFebvre, FCPA, FCA
Josie Lim, CPA, CA
John Mackenzie, CPA, CA
Jeanette McPhee, CPA, CA
Stuart Newton, CPA, CA
Sandy Stedman, FCPA, FCA
Andrew Sweeney, CPA, CA
Martha Thomas, CPA, CA
Peter Tingling, CPA, CGA
Alicia Williams, CPA, CPA (Arizona)
Grace Wong (Public Representative)
Executive Management Committee
President & CEO Lori Mathison, FCPA, FCGA, LLB
EVP, Corporate Services & CFO Amy Lam, FCPA, FCA
EVP, Regulation & Registrar Jamie Midgley, FCPA, FCA
EVP, Member and Student Experience Jan Sampson, FCPA, FCA
CPABC in Focus
VP, External Affairs and Communications Kerri Wilcox
Managing Editor Michelle McRae
Graphic Designer Caroline Toth
Communications Coordinator Megan Hooge
Advertising
For advertising rates, contact Advertising in Print at 604 681.1811 or
info@advertisinginprint.com. CPABC in Focus is the premier way to reach BC’s professional
accounting community. Advertising in CPABC in Focus does not indicate an endorsement
of any business, organization, service, or product.
Inquiries and Letters
Contact us at infocusmag@bccpa.ca
About
CPABC in Focus is published in British Columbia six times a year and is sent to approximately
32,000 CPA members, candidates, and students. Opinions expressed are not necessarily
endorsed by CPABC. Copyright CPABC in Focus 2021. Visit us online at bccpa.ca.
Mailing address: #800 – 555 West Hastings St., Vancouver, BC, V6B 4N6
Publications mail agreement no. PM 40069584
6 CPABC in Focus • Jan/Feb 2021
Gurkaran
Cooper
Jordan
Bharat
Olivia
Ishita
Scott
Mark
Evan
Ahuja Arnold Arora Athwal Aujla Bergen Bickford Bjorkland Blacklock
Annabelle
Thomas
Rachael
Camila
Robert
Sandy
Scott
Alice
JP
Bogucki Borowski Brennan Bueno Chan Chase Chen Chen Chiang
There is
Hermon
Sophie
Daniel
Felix
Arsh
Alex
Eva
Will
Nic
nothing Chough Chow Corno Davies Dee Dhaliwal Du Duncombe Ephraim
Margaret
Harkirat
Andrew
Sumeet
Roderic
virtual about
Jeremy
Raman
Gillian
Angel
Fletcher Fung Gill Grange Grant Grewal Grewal Guo Hadley
our 115
Amanda
Carolina
Amarjit
Sammi
Simon
Olivia
Kayla
Leah
Tina
successful
Hanlon Heer Ho Hoang Hobbs Hodgins Hu Israel Johnson
Katherine
Anirudh
Barbina
Jessica
Joshua
Jeffrey
Denzel
Adam
writers
Joel
Karmali Ken King Koster Kriesel Kumar Kuo Laguerta Laing
Brendan
Sabrina
Teresa
Elaine
Faline
Greg
Cole
Raj
Lin
Congratulations to
Lally Lan Lancaster Lee Li Li Lidstone Lunde Ly
our 115 successful CFE
writers in BC who will
Brandon
Hannah
Wendy
James
Jessie
Jason
Sakib
join our leading team of
Jigar
Mark
certified CPAs. Mangan Mapanoo Marchand Masrani Milligan Mok Momen Morris Nelson
Jonathan
Naresh
Raman
Megan
Stefan
Conor
Adam
Gwen
Lisi
Paroo Patrick Perry-Ens Pietramala Ponjani Prentice Randhawa Rao Regan
Gabrielle
Sevrina
Joshua
Katrina
Sakshi
Sayna
Nasek
Greg
Aditi
Roberts Russell Sadeghi Sanwal Sarker Sekhon Shah Shaheed Sharma
Zachary
Melanie
Taylor
Elaine
Oliver
Amrit
Mark
Amy
Nick
#LetsDoThis Shum Sidhu So Sourisseau Speakman Su Sze-Mirikitani Tam Tang
#KPMGProud
Madeleine
Vanessa
Melanie
Cecilia
Daniel
Kinga
Cody
Amy
Alex
Thompson Troutman Tsoi Urbanovich Varga Wong Wou Wu Wu
Jeremy
Gavin
Aida
Kelly
Ivan
Tim
Yang Yang Yap Yazdanpanah Yuen Zhang
kpmg.ca Special congratulations to our National Honour Roll recipient from BC: Katherine Kuo.
© 2020 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms
affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. 28483
The KPMG name and logo are registered trademarks or trademarks of KPMG International.
NOTES FROM THE LEADERSHIP
New Beginnings
I’m sure I’m not alone in thinking it was good to see an incredibly challenging year come to an end. At the same
time, however, I’m proud of the resilience the profession and its members demonstrated in 2020 as we adjusted,
adapted, and stayed focused on meeting our priorities while working through the pandemic.
For the CPABC team, that meant putting a new spin on some traditional initiatives. For example, as I mentioned
in the last issue of the magazine, we held the 2020 Member Engagement Tour (MET) virtually in late fall, with
members logging in online to get updates from CPABC’s executive team and advice from cybersecurity and anti-
money-laundering experts. We held 12 sessions in all, and a total of 1,407 members attended from across the
province. You’ll find a brief recap on page 10.
I’m delighted to say that feedback from the MET was incredibly positive. Members from outside BC’s major
centres, in particular, told us they appreciated the fact that the virtual format gave them greater access to the
event, as well as to other types of events and professional development offerings. Going forward, we anticipate
making additional online offerings available to maintain this level of service and ensure that we’re able to connect
with members who wouldn’t typically be able to participate in person.
Before signing off, I’d like to congratulate the 1,004 BC and five Yukon writers who successfully passed the Geoff Dodds, CPA, CA
2020 Common Final Exam (CFE). Not only did these candidates write an extremely difficult professional exam, CPABC Chair
they did so during unstable times. As they begin the next phase of their careers, I hope they draw strength from
this experience, confident in the knowledge that they rose to the challenge and excelled.
And speaking of excellence—extra kudos goes to Omar Dhanani, the BC candidate who earned this year’s regional
gold medal for Western Canada, and the nine other writers from BC and Yukon who distinguished themselves by
making the National Honour Roll. We celebrate their achievements on pages 20-26. Congratulations!
Considering BC’s Economic Recovery
As fall 2020 drew to a close, CPABC continued to provide important economic information to the public.
As I mentioned in the last issue of the magazine, we released our BC Check-Up: Work report and survey in late
October. We also began research for the BC Check-Up: Invest report and survey, which will be released in late
January.
The BC Check-Up initiative enables us to tap into our members’ expertise to provide a pulse check on the economy
and take a deeper dive on relevant economic indicators that signal how our province is faring. By looking at both
provincial and regional data, we’re able to provide salient commentary on how different regions of our province
are coping during the pandemic, and what we can expect going forward. These benchmarks will also help us
track growth as recovery begins.
In addition, CPABC held a virtual discussion with several tax experts in November, which I facilitated. We asked
these senior-level CPAs what recommendations they would make to the provincial government to facilitate BC’s
economic recovery, and they shared the following ideas: PST reform; investing in education to assist displaced
workers; ensuring that BC is a good place to invest and well positioned to attract key industries; incentivizing
technology adoption; reducing regulatory burdens; addressing the province’s high personal and corporate income Lori Mathison, FCPA, FCGA, LLB
tax rates; and leveraging BC’s low-interest, AAA rating to invest in areas that will better connect our cities and CPABC President & CEO
improve the flow of goods and services.
We look forward to doing further research on these ideas and presenting an informative public policy submission
to the government later this spring. We also plan to continue doing everything possible to contribute positively
to the province as it rebuilds.
As a final note, I’d like to join Geoff in congratulating the BC and Yukon candidates who succeeded on the
2020 CFE. It wasn’t easy, but you did it!
CPABC in Focus • Jan/Feb 2021 9
NOTES & NEWS
MEMBER ENGAGEMENT TOUR
Reaching Out in New Ways: 2020 MET Goes Virtual
opico/iStock/Getty Images
A
s mentioned in the November/December 2020 issue of the In one of the two special presentations unique to the 2020 MET,
magazine, CPABC converted its annual Member Engage- Laura Friedrich, FCPA, FCGA, a principal with Friedrich & Friedrich
ment Tour (MET) to a virtual format in 2020,* hosting 12 Corporation, provided a high-level overview of Canada’s anti-money-
live webinars between November 12 and November 23. While the laundering regime and FINTRAC’s mandate, drawing a thread to
opportunity to connect in person was no doubt missed, neither spirits the specific sections of the CPA Code of Professional Conduct that
nor attendance records were dampened by the change to a virtual speak to the relevant ethical obligations of CPAs. (See pages 46-48
format. As CPABC Chair Geoff Dodds, CPA, CA, notes on page 9, a for an article by Friedrich on ethics and AI.) In the second of the two
total of 1,407 members from across BC attended the MET webinars, special presentations, Anthony Green, CPABC’s security engineer,
and their feedback was overwhelmingly positive. provided an update on cybersecurity. In addition to reviewing some
In addition to making the MET even more accessible, going virtual recent data breaches, Green described 10 ways to spot (and avoid)
also enabled CPABC to invite two subject matter experts to present on phishing emails and provided tips for strengthening passwords.
hot topics—anti-money-laundering initiatives and cybersecurity— CPABC would like to thank all who participated in the 2020
at alternating sessions. MET attendees also had the opportunity to MET—by adapting along with us, you helped make the virtual tour
participate in live polling and an interactive Q&A with the presenters a success!
throughout each session.
Each “stop” on the tour kicked off with an update on the profession, Want to access the recordings?
co-presented by Dodds and CPABC President & CEO Lori Mathison, If you were unable to attend a virtual MET session this year, video
FCPA, FCGA, LLB. Mathison reported on CPABC’s major activities recordings and the accompanying slides for both presentations are
over the past year, including its pandemic response and the 2020 BC available to members on the CPABC website at bccpa.ca/met until
Check-Up: Work report. Drawing from employment data in the report, January 31, 2021.
Mathison noted the severe effects of the pandemic on BC’s vulnerable
populations and on industries that serve a high density of people,
require close interaction, and involve tourism/travel. Dodds followed
with an overview of CPABC’s new multi-phase Indigenous strategy As noted above, AML was one area of focus
(see pages 28-35 for details). at the 2020 MET. For more information on
anti-money-laundering initiatives in BC,
check out our feature story on pages 36-39.
* “Greetings from the New Chair,” CPABC in Focus, November/
December 2020 (5).
10 CPABC in Focus • Jan/Feb 2021NOTES & NEWS
IMPORTANT REMINDERS
2020 CPD Reporting: Deadline is January 31, 2021
CPABC would like to remind all members that the deadline to report 2020 continuing profes-
sional development (CPD) activities is January 31, 2021. To report your CPD activities, visit
CPABC’s Online Services site at services.bccpa.ca.
For more details about CPD requirements, visit bccpa.ca/cpd or email us at cpd@bccpa.ca.
Dues and Permit Renewals: Deadline is April 1, 2021
Membership dues
CPABC would like to remind all members that the deadline to pay 2021-2022 membership
dues is April 1, 2021. Note: If you are facing financial hardship due to COVID-19, you may
qualify for the Emergency Fee Reduction. Visit bccpa.ca/memberdues20212022 to review
the eligibility criteria for the Emergency Fee Reduction and other membership fee reduction
categories in 2021-2022.
Permit renewal fees
The deadline for public practitioners to renew their professional accounting corporation permits
and pay their permit renewal fees is also April 1, 2021.
Contact information Requirements
Is your contact information up to date?
This is a friendly reminder that the CPABC Bylaws require members
and students* to provide CPABC’s Registrar with the following contact
information:
• Your current email address;
• Your current mailing address;
• Your current business or employment address; and
• Your current municipality of residence.
As indicated above, you are required to keep your contact information up to date—and make any changes immediately. This is to ensure that you
don’t miss any important communications from CPABC, including information about your membership dues and other fees. Additionally, every
member with a public practice licence is required to provide the Registrar with the current street address for every authorized practising office in BC.
How to update your contact information
• Members: Log in to services.bccpa.ca and select the “Profile” tab. If you need assistance, please contact memberrecords@bccpa.ca.
To update a firm address, office address, or professional accounting corporation address, please contact publicpractice@bccpa.ca.
• Students: Log in to the My CPA Portal on the CPA Western School of Business site at my.cpawsb.ca. If you need assistance, please
contact cpaapplication@cpawsb.ca.
* In this notice, “students” refers only to candidates enrolled in the CPA Professional Education Program.
BongkarnThanyakij/iStock/Getty Images
CPABC in Focus • Jan/Feb 2021 11NOTES & NEWS
VOLUNTEER TAX SERVICES
The CRA’s Free Tax Clinics Have Gone Virtual, and They Need Your Help
CVITP volunteers work with community organizations to complete tax returns for Canadians
Image from the CRA
who have a modest income and a simple tax situation. In doing so, they provide a valuable
community service. “For Canadians with modest incomes, filing a tax return can make a big
difference,” Daniels points out. “The benefits and credits they can access by doing their taxes
can help them pay their bills, feed their families, and improve their quality of life.”
Volunteer with the CVITP
As a CPA, you can contribute your knowledge and make a difference no matter how many
hours you’re able to give. And this year, you don’t even have to leave your home to help out.
Here’s how to get involved:
L
ast March, when the pandemic hit,
it quickly became clear that orga- Step 1: Submit a volunteer registration form
nizers of the Community Volunteer The online form can be found on the CRA website at canada.ca/guide-taxes-volunteer. Once
Income Tax Program (CVITP) would have you’ve submitted the form, a CVITP co-ordinator will contact you to help you find a partic-
to get creative in order to continue offering ipating organization. Most tax clinics are held between March and May, but some community
free tax clinics to Canadians in need. The groups offer tax clinics all year long. Note: The CVITP volunteer registration form has a
community organizations that run the clin- checkbox for CPA members that’s used for statistical reporting and acknowledgement purposes.
ics in partnership with the Canada Revenue Once you’re approved as a volunteer, the CRA will send you information about its online
Agency (CRA) showed they were up for the training options for completing simple tax returns.
challenge, working with CRA representatives
to find new ways to deliver free tax help while Step 2: Apply for your licensure exemption
adhering to physical distancing requirements. Because the preparation of tax returns, even at volunteer tax clinics, is a regulated activity that
Volunteers at virtual tax clinics completed tax would require licensing under normal circumstances, BC CPAs who are not already licensed
returns by phone, through videoconferencing, for public practice must apply for an exemption from licensing before volunteering in this
or by using document drop-off arrangements. capacity. This includes members who are employed in public practice but who are not personally
“We saw community organizations spring licensed and those who hold the “Other Regulated Services – Non-Reviewable” licence. By
into action to host free virtual tax clinics,” granting the licensure exemption, CPABC is acknowledging the significant societal benefit
says Heather Daniels, director-general of the provided by the volunteers who perform this service.*
benefits program directorate at the CRA and To apply for the exemption, go to CPABC’s Online Services site at services.bccpa.ca. You’ll
a CVITP volunteer. “These organizations were find instructions at the bottom of the page. For those who apply for the exemption, CPABC
committed to ensuring that Canadians con- holds a blanket policy with CPA Professional Liability Plan Inc.; the policy applies to autho-
tinued to file their taxes and receive their rized CPABC members provided certain conditions are met, as detailed in CPABC’s Volunteer
benefits and credits, while also ensuring the Resource Centre at bccpa.ca/volunteer. Members who apply for the licensure exemption
safety of Canadians, partner organizations, with the intention of volunteering with the CVITP will receive a copy of the latest edition of
and volunteers.” the Personal Tax Planner Guide, published by CPA Canada (while supplies last). Copies of the
Given that pandemic-related restrictions guide will be mailed out in February.
are still in place at the time of this writing,
the CVITP tax clinics will be offered virtually Questions?
in the upcoming tax season as well, and the Email us at professionaladvisory@bccpa.ca.
CRA is currently looking for volunteers and
community organizations to help to run them.
“The program relies on volunteers, such as * Candidates enrolled in the CPA Professional Education Program and students registered
CPA members,” says Daniels. “We’re looking with CPAWSB who are taking preparatory courses may only volunteer to prepare tax returns
for people with a basic understanding of taxes under the supervision of CPA members who are licensed for public practice or who have
and who are good at using online tax and obtained the exemption from licensure as noted above. These students are not eligible to
videoconferencing platforms.” apply for the exemption themselves because they cannot be licensed for public practice.
12 CPABC in Focus • Jan/Feb 2021Great conversations,
great relationships, great futures
Congratulations to our successful CFE writers! We are proud to add these rising stars to our
exceptional team of CPAs. A truly remarkable achievement and we look forward to celebrating
their continued success as valued members of the Baker Tilly team!
BAKER TILLY VICTORIA (250.386.0500)
ALEX MEGHAN NATASSIA PETER
Zhang Seginowich Dombovary Cameron
BAKER TILLY WM (604.684.6212)
CALISTUS CARMELA JANEL JAY LEAH NICHOLAS
Alexander Serrano Tse Gill Chatfield Chan
RAY SUSIE TARAN TONI TRISH
Helgason Jiang Sandhu Madan TangNOTES & NEWS
RESOURCES FOR EMPLOYERS & JOB SEEKERS
Ongoing Demand for CPAs Drives Virtual Connections
A
lthough the pandemic continues to take a toll on the business The inaugural event was held November 3-5, 2020, and hundreds
sector and economists are forecasting a slow and bumpy attended. On day one, job seekers logged in to learn about the par-
economic recovery, other drivers of demand are still influ- ticipating employers and book interviews. On day two, job seekers
encing business decisions around hiring. The demand for CPAs, in practised their interview skills by participating in mock interviews
particular, is still strong, and it is only expected to increase. with agency recruiters. And on day three, it was interview time, with
Accordingly, CPABC is undertaking a number of initiatives to more than 200 virtual meetings taking place!
maintain the CPA training pipeline.1 In addition to increasing the The next Speed Interview event will be held March 2-4, 2021. There
profession’s accessibility (see pages 28-35), CPABC is working to find is no cost to participate, and registration is now open. Email the
new ways to connect employers with the future workforce and tell SRER team at careers@bccpa.ca to find out more.
prospective CPAs about the exciting career opportunities available.
Here are two recent examples of innovation from CPABC’s student More virtual events scheduled in 2021
recruitment and employer relations (SRER) team: CPABC will continue to deliver career development and recruitment
events virtually until it is deemed safe to meet in person again. In
Conversations with a CPA addition to the March 2021 Speed Interview event mentioned above,
This past fall, the SRER team launched a new 30-minute webinar series there are three other career development and recruitment events
for prospective students called “Conversations with a CPA.” Each that will be held virtually in 2021:
webinar features a CPA member who shares their career journey and
answers questions from the audience. These monthly webinars provide Connect Panel: February 24
an opportunity for CPAs and prospects to have casual conversations The SRER team is looking forward to kicking off the year with
about the profession. At the time of this writing, the SRER team had CPABC’s highly anticipated Connect Panel. Each year, hundreds of
hosted two webinars: Tsveta Anagnostos, CPA, CA, a virtual CFO2 accounting professionals and prospective students gather to learn
with Frontier CFO Services Inc., appeared in the inaugural webinar about the latest trends, new technologies, and in-demand skills for
in October, and Maneisha Sandhu, CPA, a tax manager with PwC CPAs. Join us virtually on February 24 to gain insights from an expert
Canada, was featured in November. panel and network with peers.
If you’re a CPA and you’d like to share your CPA story, email Sharon
Hummel, our student recruitment manager, at shummel@bccpa.ca Case Competition: February 5-7 & March 20-21
for details. The SRER team welcomes your involvement! The SRER team is also excited to host CPABC’s seventh annual Case
Competition for post-secondary students. This event challenges stu-
Speed interviews dents to think strategically and develop innovative solutions to real
Traditionally, CPABC’s popular Speed Interview Nights have been held business challenges. This year’s competition will be held virtually,
in person at venues throughout BC. In adapting to the new normal, following the same format as in 2020. The first round will take place
the SRER team has transformed this initiative into a three-day virtual in February, with students submitting videos, and the second round
event open to job seekers and employers across the province. will be held in March and feature an online live presentation.
The new format is designed to help job seekers prepare for their inter-
views before they meet with employers, with each day themed to reflect COIN Competition: April 17
the different stages of the job-seeking process: 1) learn, 2) network, Looking ahead to the spring, the SRER team will be hosting CPABC’s
and 3) interview. The special software used for the event provides fourth annual COIN Competition for high school students across
employers with branding opportunities and allows for one-on-one BC on April 17. This competition tests students’ accounting acumen
video meetings. on introductory accounting and business concepts.
1
For more on this topic, see “Keeping the Numbers Up” in the
September/October 2020 issue of CPABC in Focus (14-22). Visit bccpa.ca/become-a-cpa/events
2
A “virtual CFO” provides CFO services part-time and remotely. for details on these events and more.
14 CPABC in Focus • Jan/Feb 2021NOTES & NEWS
Other ways to get involved
CPABC Ambassador Program
Do you love being a CPA? CPABC is looking for proud CPAs who are
passionate about the profession to join the CPABC Ambassador Pro-
gram as member and/or faculty ambassadors. There’s no minimum time
commitment—you’re invited to contribute as many hours as you can.
As a member ambassador, you’ll inspire future CPAs by sharing
your story with prospective students. Volunteer opportunities include
speaking on panels, judging case competitions, and participating in
both formal and informal networking events.
As a faculty ambassador, you’ll advocate for the CPA Professional
Education Program (CPA PEP). CPABC will provide you with all
the information you’ll need to field questions from students and
peers. You’ll also receive ongoing updates about CPA PEP, exclusive
event invitations, and classroom resources. These positions are open to
faculty members at all BC post-secondary institutions, regardless of
their area of discipline. Email us at ambassadors@bccpa.ca for details.
LeoPatrizi/E+/Getty Images
Employer Program
Does your organization frequently hire CPAs? Consider joining the
CPABC Employer Program to enhance your recruiting and talent
acquisition strategy. There are no startup fees to join the program!
Our CPA recruitment experts can help you find the talent you need
to take your business to the next level. As a CPABC employment
partner, your organization will also benefit from first access to Questions?
branding opportunities, recruitment events, and discounts on the • Prospective students: email recruitment@bccpa.ca.
CPABC Careers Site. Email us at careers@bccpa.ca for details. • Employers and job seekers: email careers@bccpa.ca.
CPABC in Focus • Jan/Feb 2021 15NOTES & NEWS
MEMBER RECOGNITION
Nominate a CPA for a 2021 BC CFO Award!
F
or the 11th year in a row, Business in Vancouver and CPABC are partnering to recognize
and celebrate the top CFOs in British Columbia at the BC CFO Awards. Honourees
are chosen based on their performance relating to corporate growth through strategic
decision-making, as well as overall performance and execution, sound business principles,
and reporting. Awards will be presented in the following categories:
• Large Public Company (revenues > $75 million)
bortonia/DigitalVision Vectors/Getty Images
• Small Public Company (revenues < $75 million)
• Large Private Company (revenues > $75 million)
• Small Private Company (revenues < $75 million)
• Publicly Accountable
• Not-for-Profit
• Transformation Agent
Visit biv.com/bc-cfo-awards to nominate a fellow CPA for a BC CFO Award. Nominations
(including supporting materials) must be received by Business in Vancouver by noon on
March 2, 2021.
Coming this Spring: CPABC to Host Virtual Member Recognition Celebration
E
ach year, CPABC proudly acknowl-
edges the achievements of outstand-
ing BC CPAs through its Member
Recognition Program. Honourees are chosen
for their commitment to excellence and their
contributions to the profession and their
local communities.
We’re pleased to announce that the tradition
of celebrating our honourees at an annual
gala will continue in 2021, albeit in a virtual
format. Our virtual member recognition
celebration will be held on April 8 and will
feature live messages from distinguished
guests, interviews with award recipients,
and personal messages from the members
newly elected to CPABC’s Fellowship.
CONGRATULATIONS TO OUR 2020 CFE WRITERS Everyone is invited to attend this special
event to celebrate with the profession and
Davis Ling and Ramya George get to know the honourees. Family members,
Vohora LLP
colleagues, and friends of the honourees are
CPAs & Business Advisors
especially encouraged to join the festivities.
Vancouver South Surrey Mission Office Prince Rupert Event details can be found on the CPABC
#1010, 777 Hornby Street #303, 15252 32 nd Avenue 7311 James Street #111, 101 1 st Avenue East website at bccpa.ca/news-events.
Vancouver, BC V6Z 1S4 Surrey, BC V3Z 0R7 Mission, BC V2V 3V5 Prince Rupert, BC V8J 3X4
Ph: (604) 251-1535 Ph: (604) 541- 9890 Ph: (604) 826 - 1631Ph: (250) 624 -2300 jittawit.21/iStock/Getty Images
Toll-Free: 1-800-281-5214 Fax Number: (604) 541-9845
16 CPABC in Focus • Jan/Feb 2021Smart decisions. Lasting value. Congratulations to our Successful 2020 CFE Writers Alexandra Zamluk Robert Madronic Betty Zhao Harris Khatib David Zhang Caleb Kelly Saurabh Jandu Lindsey Warren Nelson Allan Holgren Lai Daniela Oshikawa Christian Calpe Phyllis Ung Brian Wilkins Derek Hansen Steven Nguyen Kaitlyn Bouvier Liam Coombs Jonathan Luc Ben Robinson Crowe MacKay LLP would like to congratulate their successful CFE writers of 2020. This accomplishment is a result of their dedication and perseverance — making them all exceptional additions to the accounting industry. Calgary | Edmonton | Kelowna | Surrey | Sunshine Coast | Vancouver | Whitehorse | Yellowknife
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18 CPABC in Focus • Jan/Feb 2021Congratulations to Our Successful
2020 CFE Writers!
ALEX FONG BRANDON GRAHAM BRIGETTE HAWKES JESSICA CHAN KELLY PROVENZANO
MADYSON PAGLIACCI RACHEL HONG TARN MINHAS VANESSA LEE
WARREN DUPASQUIER ZARA DENG
W W W . D A V I D S O N - C O . C O MCover Story
Celebrating
CFE Success!
Meet the 10 CFE writers from
BC and Yukon who made the
National Honour Roll
Like so many events in 2020, the September 2020 writing of
the Common Final Exam (CFE) had to be adapted for the
realities of life during a pandemic. Strict physical distancing and
sanitization protocols were followed, with candidates writing in
individual hotel rooms under the supervision of assigned invigilators.
CPABC was delighted to learn that 1,004 BC candidates and
five Yukon candidates were successful on the exam. We would like
to congratulate them all and give a special shout-out to the 10
writers among them who made the National Honour Roll: BC
candidates Omar Dhanani, who earned the regional gold medal
for Western Canada, Aron Funk, Lachlan Hicks, Justine Johl,
Daniel Kong, Katherine Kuo, Lucas Lo, Ben McDonald, and
Jordan McGarry, and Yukon candidate Rene Grewal.
Here’s what each had to say about their CFE experience.
fotostok_pdv/iStock/Getty Images
20 CPABC in Focus • Jan/Feb 2021Omar Dhanani Regional Gold Medallist Who would you like to thank for providing support during your
studies? First of all, I’d like to thank my partner Brienne for her
Birthplace & current city of residence: continuous support and belief in me. Her reassurance during tough
Burnaby, BC study and exam days was the reminder I needed to have confidence
in myself.
Employer: Ernst & Young LLP I would also like to thank my study group partners Zach Sourisseau
and Katrina Sekhon. Marking and debriefing cases together definitely
Job title: Senior Accountant contributed to my success as a case writer and made the studying
experience more enjoyable.
What will you remember most about your Lastly, I’d like to thank Jas Dusanj, CPA, CA; Kris Wirk, CPA, CA;
CFE experience? I had originally planned to travel to Southeast Asia at and the rest of the Dusanj & Wirk CPA team. I’ve really appreciated
the start of the summer, but COVID put a stop to that. That gave me the their mentorship and encouragement throughout the CPA program.
opportunity to explore BC, and I couldn’t have had more fun. From
learning to surf in Tofino, to relaxing in an oceanfront cabin in Sooke, to Any advice for future CFE writers? Trust the process, no matter
flying in a small two-seater plane over the mountains in Revelstoke, how difficult it seems at times! Make a CFE study plan and stick to it.
I will never forget the amazing memories I made over my CFE summer! Write all cases in exam conditions and make sure to thoroughly debrief
them. Address the areas where your technical skills need improvement
Any hobbies that helped you manage stress during your studies? so you can become a well-rounded case writer. Most importantly,
Hockey has always been an activity that I could rely on to manage my make sure to take breaks to keep your brain fresh—downtime is just
stress. But when group sports were shut down over the summer, I as important as time spent studying.
took the opportunity to learn how to play golf as a way to spend time
with friends, get out in the sun, and keep my stress levels in check.
Rene Grewal
Who would you like to thank for providing support during your
studies? I want to thank my study partner, Lachlan Hicks, for keeping Birthplace & current city of residence:
me on track and motivated all summer. I also want to thank Cole Whitehorse, YT
Christiansen, CPA, for being a great mentor; all my friends and col-
leagues at EY, for always being supportive and kind; and my family, Employer: BDO Canada LLP
for giving me the opportunity to succeed.
Job title: Senior Accountant
Any advice for future CFE writers? Don’t be afraid to take unplanned
breaks in your study schedule. Listen to what your body and mind are What will you remember most about your
telling you, and take days off when you need to. The summer leading CFE experience? Experiencing the pandemic and the CFE at the same
up to the CFE is a long one, and avoiding burnout should be a priority. time is something I will never forget. In particular, the feeling of
walking into my hotel room on day one—I was quite nervous, because
the process was so different from the module exams.
Aron Funk
Any hobbies that helped you manage stress during your studies?
Birthplace & current city of residence: I was careful to work relaxation into my study schedule. I read books,
Prince Rupert, BC; Victoria, BC went on walks, and spent time at the lake with family.
Employer: Dusanj & Wirk Chartered Who would you like to thank for providing support during your
Professional Accountants Inc. studies? I’d like to thank my CFE mentor Maria Roberge, CPA, for her
support throughout CPA PEP. Her study tips were vital to my success
Job title: Senior Accountant on the CFE, and without her guidance, I wouldn’t have made the
honour roll. I’d also like to thank my best friend and study partner
What will you remember most about your CFE experience? The Erica Mayede for holding me accountable to our schedule, discussing
five-minute warning on day three. My hands were shaking so much the practice cases over numerous video calls, and sharing this entire
from all the adrenaline rushing through my body that I could barely experience with me.
type my conclusion to the last AO [assessment opportunity]. The re- To my parents, sisters, boyfriend, and grandpa: Thank you for your
alization that I was about to finally complete the CFE was surreal. emotional support and for believing in me even when I lost confidence.
Thank you also to all the friends, co-workers, and fellow CPA candidates
Any hobbies that helped you manage stress during your studies? who cheered me on along the way.
Playing lots of golf! The sun and fresh air really helped me decompress
Any advice?
after long days of writing and debriefing cases.
CPABC in Focus • Jan/Feb 2021 21Any advice for future CFE writers? It’s so important to debrief! Justine Johl
Debriefing every case in depth can help you understand where you
went wrong and where you went right. It’s also important to pick a Birthplace & current city of residence:
study partner and a CFE mentor who match your learning style— Surrey, BC
people you trust and are comfortable with, so you can ask questions
and discuss issues freely. Lastly, try to plan your study schedule so Employer: Deloitte LLP
that you’re writing cases at the same time of day as the CFE—it will
make it easier to transition to “case-writing mode” during the real Job title: Staff Accountant
exam.
What will you remember most about your
CFE experience? I’ll always remember the private suite on the 18th
Lachlan Hicks floor that I had the luxury of writing in. And of course, I’ll never be
able to forget the revenue recognition criteria!
Birthplace & current city of residence:
Revelstoke, BC; Vancouver, BC Any hobbies that helped you manage stress during your studies?
I found it hard to shake the CFE stress—it’s the type of stress that
Employer: Ernst & Young LLP never really leaves you—but the larger challenge was trying to find
distractions from stress and lead a balanced life during a pandemic.
Job title: Senior Accountant Still, I made it a habit to stop studying before dinner every evening
so I could go to spin class and binge-watch Netflix.
What will you remember most about your
CFE experience? This year’s “COVID CFE summer” certainly had its Who would you like to thank for providing support during your
advantages and disadvantages. Although we didn’t get to experience studies? My CFE experience would not have been the same were it
the rush of being greeted by our friends and co-workers after finishing not for some truly incredible people in my life.
the exam, we were lucky in many other ways. For example, I’ll always To the Deloitte team: Thank you for the top-tier programs and
remember arriving at my hotel room an hour before the exam and supports you provided. Thank you to each person who offered en-
watching Netflix in bed to keep my stress level under control! couragement, inspiration and kind words. A special thank you to my
CFE coach, who believed in me from the start!
Any hobbies that helped you manage stress during your studies? To the University of Saskatchewan MPAcc team: Thank you for
I was an early-morning studier, which meant I had all afternoon to helping me develop a strong base. I appreciate the support of amazing
get outside and do other things. By the time I went to sleep every professors who went above and beyond.
night, I always felt like I’d accomplished much more in my day than To my family: Thank you for the love, support, and understanding
just studying, and it helped energize me to get back into it the next you’ve given me through all of my endeavours.
morning. Finally, a big thank-you to my study buddies—you know who you are!
Who would you like to thank for providing support during your Any advice for future CFE writers? The CFE is a beast, but it’s a
studies? I was so lucky to be in a study group with Omar Dhanani, beast that can be conquered.
who is not only one of the smartest guys I know but also one of my State of mind and mental game are a huge part of the CFE. Leave
best friends. We really pushed each other throughout the summer and bad days, bombed questions, and failed cases in the past. Learn from
made it a memorable experience. I also want to thank my CFE mentor losses and carry forward only the wins. Be confident in your hard
and friend Cole Christiansen, CPA, for his support and encouragement. work and preparation!
Finally, thanks to all my colleagues at EY who enforced the “studying
comes first” policy over the last two years, giving me the flexibility to
work through my modules while balancing a busy work schedule.
Any advice for future CFE writers? Be flexible. It’s important to
have a well-planned study schedule, but it shouldn’t be set in stone.
As long as you’re achieving your goals on a weekly basis, you can
trust that everything will come together in the weeks leading up to
the CFE.
22 CPABC in Focus • Jan/Feb 2021Daniel Kong Any advice for future CFE writers? Be realistic and thorough with
your studying, whether you’re working on a technical review or case
Birthplace & current city of residence: writing. Also, prioritize taking care of both your mind and your
Richmond, BC body: Be sure to give yourself a break when you feel that you need it,
and maintain a healthy diet to keep your brain alert.
Employer: PricewaterhouseCoopers LLP
Job title: Senior Associate
On the 2020 CFE results:
What will you remember most about your
CFE experience? The overwhelming feeling of accomplishment and
relief I felt as I leaned back in my seat at the end of day three of the
“The 1,009 candidates from BC
exam, with the biggest smile on my face. I was also lucky enough to and Yukon have passed the
write the exam in a corner room with a waterfront view, which was
a great way to kick off each morning! 2020 CFE by demonstrating
Any hobbies that helped you manage stress during your studies? technical and professional skills
I found that physical activity was the best way for me to mentally reset.
And I spent the months leading up to the exam creating an extensive
they will continue to develop
playlist of songs that helped me unwind before and after long days of and use throughout their
studying.
careers. On behalf of all
Who would you like to thank for providing support during your
studies? I’d first like to thank my parents for their infinite support CPAWSB employees, I extend
throughout my educational and professional career, and for being
role models who motivate me to improve myself every day. congratulations and best
I also need to thank my study group for helping me through the
wishes for ongoing success.”
entire process: Derrick Tan, for keeping me accountable and making
even the longest days enjoyable; and Andrew Lee and Kit Wong for
challenging my knowledge and always bringing new perspectives to
—Steve Vieweg, FCPA, FCMA, CEO of
our study sessions. the CPA Western School of Business
Lastly, I’d like to thank my friends and colleagues at PwC for cre-
ating an exceptionally supportive environment for the CFE writers.
At Boys and Girls Clubs of South Coast BC,
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CPABC in Focus • Jan/Feb 2021 23Katherine Kuo Lucas Lo
Birthplace & current city of residence: Birthplace & current city of residence:
Taipei, Taiwan; Vancouver, BC Vancouver, BC
Employer: KPMG LLP Employer: PricewaterhouseCoopers LLP
Job title: Senior Accountant Job title: Senior Associate
What will you remember most about your What will you remember most about your
CFE experience? I’ll remember the long hours of case writing and CFE experience? I’ll remember the rush of emotions I experienced
fun debriefing sessions I had with my study group, writing the exam watching the clock count down during the final minute of day three.
in a hotel suite all to myself, and the relief of getting the news that I It felt bittersweet knowing that this could be the last exam I ever write,
passed. But the thing I’ll remember most about my CFE experience and I gained a greater appreciation for my CFE journey.
is the excitement I felt and the fun I had when celebrating virtually
with my fellow writers on results day! Any hobbies that helped you manage stress during your studies?
Catching up with friends through socially distanced picnics and
Any hobbies that helped you manage stress during your studies? video calls helped me clear my head. To stay active, I took my dog for
I made time to exercise after long hours of studying, and I read at the walks and played hockey in my backyard. When it rained, watching
end of each day to relax. the show Brooklyn Nine-Nine kept me in good spirits.
Who would you like to thank for providing support during your Who would you like to thank for providing support during your
studies? I’d like to first thank my study group—Elaine Li and Angel studies? I’d like to thank my parents, Daniel and Fiona Lo, CPA,
Guo—for not only providing motivation and valuable feedback, but CGA, and my siblings, Valerie and Ernest, for their support. During
for also sharing many laughs despite the rigorous study process. I’d my study leave, they made sacrifices to create an environment that
also like to thank my CFE mentor Diane Byun, CPA, for giving me allowed me to focus on studying.
valuable insight, advice, and reassurance throughout the entire pro- Special thanks goes to my girlfriend and study buddy Chelsea Choi
cess. Finally, I’d like to thank all my friends for their encouragement for challenging me with tough technical questions, helping me stay
and for being my support system—I could not have done it without focused, and believing in me.
you all! I’d also like to thank my other study buddy Kimberly Lin for the
detailed feedback on my practice exams—it pushed me to study
Any advice for future CFE writers? Find a study group or partner harder. Furthermore, I’m grateful for the support of my CFE mentor
who can provide comic relief but also keep you disciplined—you’ll Jonathan Li, CPA: thank you for the valuable study tips and the
need to strike a balance between the two. Discipline includes having snack-filled exam care package.
a study schedule and sticking to it. Also, write all your practice cases Lastly, a shout-out to my dog Suki for keeping me company during
under exam-like conditions and take the time to debrief them. And late-night study sessions!
don’t get discouraged if you don’t perform well on a practice case—it’s
part of the learning experience. Finally, if you learn how to navigate Any advice for future CFE writers? Stick to the study style that works
the CPA Handbook and nail down the case-writing process, you’ll be best for you, even if it means working at a different pace than others.
ready to tackle whatever the CFE throws at you! On exam day, trust that you’re prepared and write with confidence—
you’ve succeeded on past exams and you can succeed on the CFE too!
24 CPABC in Focus • Jan/Feb 2021When your clients’
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Birthplace & current city of residence: Birthplace & current city of residence:
Kelowna, BC Vancouver, BC
Employer: MNP LLP Employer: Strand
Job title: Senior Accountant Job title: Senior Analyst
What will you remember most about your What will you remember most about your
CFE experience? The most rewarding part of this experience was CFE experience? The moment on day three when I typed my last
the sense of accomplishment I felt after completing day three of the few words—it was like a huge weight lifted off my shoulders. It was
exam and after finding out I made the CFE Honour Roll. Both were incredible to realize that I’d just finished an exam I had spent two
surreal moments that I’ll always remember! years preparing for!
Any hobbies that helped you manage stress during your studies? I Any hobbies that helped you manage stress during your studies?
started running and golfing this summer, which allowed me to clear Given the pandemic, I spent most of my free time with my wife and dog,
my mind after long study days. I also spent a lot of time checking out either watching movies and eating takeout or playing fetch at the local
breweries and enjoying social-distanced hangouts with my friends. park. Getting enough sleep was also incredibly important—after a full
day of studying I was out like a light as soon as my head hit the pillow!
Who would you like to thank for providing support during your
studies? I’d like to thank my parents, as well as my brother and sister, Who would you like to thank for providing support during your
for their support throughout the entire summer and through my studies? Firstly, I’d like to thank my wife Erika for her undying support
entire schooling process. I’d also like to thank my study partner and for being so accommodating with my hectic work and study
and great friend Michael Bitcon for pushing me all summer. Lastly, schedule. I’d also like to thank my parents and sister for believing in
I’d like to thank everyone at MNP LLP for their help and support me throughout the many twists and turns of this journey.
throughout the years—especially my mentors Kyla Stewart, CPA, To my study buddies Denzel Laguerta and Jeffrey Koster: Thank
and Daniel Larkin, CPA, for the extra support and guidance they you for spending those last few days systematically going through
provided me over the summer. I wouldn’t have gotten this result the CPA Handbook and for challenging me throughout the summer.
without all of you. Lastly, to my various mentors and supervisors thus far—Kevin
Johnston, CPA, CA; Nolan Blackie, CPA, CA; Rob Chalhoub; Helen
Any advice for future CFE writers? Honestly, just trust the process Zhu, CPA, CA; and Harsimran Sangha: Thank you for pushing me
and work hard all summer, but make sure to give yourself breaks to to new limits, believing in me, and inspiring me to work hard and
avoid burning out. Stay positive and focused and you’ll be successful. remain focused.
Any advice for future CFE writers? I’d advise all writers to adopt a
questioning mindset and apply their knowledge to different scenarios.
And for those who aren’t able to take a significant amount of time off to
prepare for the CFE, I’d say start studying early and be sure to create
a solid, non-negotiable study schedule.
Photos of Omar Dhanani, Lachlan Hicks,
Katherine Kuo, Lucas Lo, and Jordan McGarry
by Kent Kallberg Studios. Photo of Aron Funk
by Jesse Hlady Studios. Photo of Rene Grewal
by Erik Pinkerton Photography. Photo of Justine
Johl by Artona. Photo of Daniel Kong by Alastair
Bird. Photo of Ben McDonald by Shawn Talbot
Photography.
26 CPABC in Focus • Jan/Feb 2021I give to my community. With Vancouver Foundation, my giving lasts forever. 77 years ago, a single gift started Vancouver Foundation. That gift is still making a difference in the community today. You can create a fund that gives forever. Visit go.vancouverfoundation.ca/CPABC or call us at 778-968-0104 to learn more.
CPABC’s Indigenous Strategy:
Building for a Stronger, More Inclusive Future
By Lori Mathison, FCPA, FCGA, LLB
D
uring our recent Member Engagement Tour (MET), CPABC board chair Geoff Dodds, CPA, CA, shared
Moon logo by Robert Mearns,
commissioned by CPABC in CPABC’s Indigenous strategy with members. I would like to take this opportunity to provide an overview
February 2020. of the strategy to those of you who were unable to attend the MET.
As CPABC is the only regulator and educator of professional accountants in the province, part of our core mandate
is to deliver sufficient and appropriately skilled CPAs to meet market demand—now and in the future. This is one of the
primary goals of our three-year rolling strategic plan. In support of this goal, we are continually working to enhance
the attractiveness and accessibility of the profession to appeal to a broad cross-section of our diverse society, including
Indigenous peoples and new Canadians.
28 CPABC in Focus • Jan/Feb 2021“Our Indigenous strategy is built on the core principle that CPABC protects the public by
ensuring that the skills of a CPA are accessible to all communities and that the CPA profession
reflects the diversity of the communities we serve.”
Increasing Indigenous representation in the profession has been a Our working hypothesis is that Indigenous peoples are underrepre-
priority for CPABC since its inception, with discussions starting at the sented in the CPA profession. To find out if others agree, we’ve asked
board level shortly after proclamation of our legislation in 2015. And members, Indigenous people, and representatives of government and
it is a goal that aligns with the policy direction of the BC government; other organizations the following three questions:
in November 2019, British Columbia became the first jurisdiction in 1. Do you think that Indigenous peoples are underrepresented in
Canada to pass legislation that brought provincial laws in line with the CPA profession?
the United Nations Declaration on the Rights of Indigenous Peoples 2. Do you believe financial management capacity is important to
(UNDRIP).1 Indigenous nation-building and self-determination?
To support this goal, CPABC is developing a multi-phase strategy in 3. Do you feel there is an adequate number of Indigenous students
collaboration with relevant partners. In developing this strategy, we enrolled in finance and accounting programs?
have adopted the following guiding principles:
• We must include Indigenous perspectives and views in the Overwhelmingly, their answers have been the same: Yes, yes, and
creation and execution of the strategy; no. (This was also the case when we asked these same questions of
• The strategy must be built on respectful and trusting the general membership during the 2020 MET.)
relationships; We also tested our hypothesis by asking members to voluntarily
• We must foster collaboration and partnerships; and self-identify their Indigenous heritage during our dues renewal pro-
• We must learn, unlearn, and relearn. cess in 2020. While Indigenous peoples represent almost 6% of BC’s
population, less than 0.5% of CPABC’s membership and just over 1%
Our Indigenous strategy is built on the core principle that CPABC of candidates and students self-declared as Indigenous. While these
protects the public by ensuring that the skills of a CPA are accessible results support our hypothesis, it’s important to note that they don’t
to all communities and that the CPA profession reflects the diversity paint an entirely accurate picture. Almost half of the respondents
of the communities we serve. who self-identified as Indigenous in 2020 lived outside of Canada,
and their responses were excluded from the total count because we
could not ascertain if they were Indigenous to Canada. Additionally,
1
Simon Little, “British Columbia Becomes 1st Canadian Province because this request was put forward through the dues renewal process,
to Pass UN Indigenous Rights Declaration,” November 26, 2019, members who were exempt from dues in 2020 did not have the oppor-
globalnews.ca. tunity to identify as Indigenous; nor did new members, registering
for the first time.
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